Aske
Lederhosen
Karma: 120 Posts: 31405
 Offline
 
|
 |
[Politics/Econ D+G] hey brother, can you spare $1T?
« on: September 19, 2008, 08:31:13 AM » |
|
http://www.usnews.com/blo...-wall-street-bailout.htmlI will never vote for anyone that votes for this. *feces*, just let the house of cards fall down.
|
|
|
|
|
Logged 
|
Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century. -- Chimpy McFlightsuit, CEO of Bu$hco Industries of 'Merka |
|
|
Spanky
Full Metal Jacket
Karma: 48 Posts: 4842
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #1 on: September 19, 2008, 10:36:45 AM » |
|
So the government is going to own the banks now too?
|
|
|
|
|
Logged
|
|
|
|
gleek
Flak Jacket
Karma: 107 Posts: 9511
OfflineE chu ta!
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #2 on: September 19, 2008, 12:58:24 PM » |
|
This *goshdarn* bailout better be in the form of loans that these *goshdarn* banks have to *goshdarn* pay back with *goshdarn* interest.  |
|
|
|
|
Logged
|
Woman, open the door, don't let it sting. I wanna breathe that fire again.
|
|
|
Spanky
Full Metal Jacket
Karma: 48 Posts: 4842
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #3 on: September 19, 2008, 02:52:35 PM » |
|
This *goshdarn* bailout better be in the form of loans that these *goshdarn* banks have to *goshdarn* pay back with *goshdarn* interest. I'd bet against that. |
|
|
|
|
Logged
|
|
|
|
MFAWG
Rich Corinthian Leather Jacket
Karma: 31 Posts: 5720
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #4 on: September 19, 2008, 02:53:34 PM » |
|
This *goshdarn* bailout better be in the form of loans that these *goshdarn* banks have to *goshdarn* pay back with *goshdarn* interest. Oh, you are so CUTE, you silly lib, you... 'Pay Back With Interest'. THAT is funny... |
|
|
|
|
Logged
|
The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
|
|
|
Aske
Lederhosen
Karma: 120 Posts: 31405
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #5 on: September 19, 2008, 02:55:31 PM » |
|
in normal countries the government nationalizes profitable businesses  |
|
|
|
|
Logged
|
Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century. -- Chimpy McFlightsuit, CEO of Bu$hco Industries of 'Merka |
|
|
twoiron
Full Metal Jacket From: The Drawing Room
Karma: 41 Posts: 4571
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #6 on: September 19, 2008, 03:18:58 PM » |
|
in normal countries the government nationalizes profitable businesses The alternative therefore is Communism. Better get those little red books out and start waving them around |
|
|
|
|
Logged
|
"Nothing says sorry like a warm plate of bacon... or so I'm told"
|
|
|
MFAWG
Rich Corinthian Leather Jacket
Karma: 31 Posts: 5720
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #7 on: September 19, 2008, 03:55:18 PM » |
|
in normal countries the government nationalizes profitable businesses The alternative therefore is Communism. Better get those little red books out and start waving them around After 30 years of Free Market Uber Alles, we have effectively socialized the home lending industry. The only difference is that executives made hundreds of millions of dollars in salaries and bonuses before sticking the taxpayers with the bill. |
|
|
|
|
Logged
|
The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
|
|
|
hobbit
Tartan Jacket From: The Shire
Karma: 27 Posts: 1823
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #8 on: September 20, 2008, 02:09:23 PM » |
|
It appears that the government is picking up current mortgage portfolios that are damaging the books of financial institutions. Its not nationalizing the issuance of new mortgages, or banks in general. And in the process the government will get the mortgage payments or the real estate associated with the mortgages. While the value may not turn out to be as great as the debt they are assuming, its far, far from just blowing $700M - there is a return there.
I'm all for preventing a fear based run on the market that damages structures much more sound than a house of cards, but I don't like bailing out houses of cards either. And the sides being drawn on this are nothing more than election year theatrics as well. The whole thing smells a bit to me.
|
|
|
|
« Last Edit: September 20, 2008, 02:11:28 PM by hobbit »
|
Logged
|
I've gone to find myself. If I get back before I return, keep me here.
|
|
|
MFAWG
Rich Corinthian Leather Jacket
Karma: 31 Posts: 5720
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #9 on: September 20, 2008, 02:18:42 PM » |
|
So they're only nationalizing the BAD debt of financial institutions?
Sounds to me like just what it is.
|
|
|
|
|
Logged
|
The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
|
|
|
hobbit
Tartan Jacket From: The Shire
Karma: 27 Posts: 1823
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #10 on: September 20, 2008, 02:24:24 PM » |
|
So they're only nationalizing the BAD debt of financial institutions?
That looks to be the case at this time. Poor precedent to set, and like I said - it smells. Not sure its worthy of a godwin ploy though  |
|
|
|
|
Logged
|
I've gone to find myself. If I get back before I return, keep me here.
|
|
|
MFAWG
Rich Corinthian Leather Jacket
Karma: 31 Posts: 5720
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #11 on: September 20, 2008, 02:29:18 PM » |
|
Sure it is. Because it's ALL THERE:
Forcing the taxpayers to subsidize business, constant maintenance of a 'War Time Footing ' (RUSSIA RESURGENT, BE AFRAID!, The Surge Worked so we can Never, Ever Leave!) scapegoating of an ethnic minority (The Messicans are sucking up all the tax dollars!) and blind allegiance to an economic philosophy that's been proven NOT TO WORK (again) by proclaiming any other method as 'Socialism'.
|
|
|
|
|
Logged
|
The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
|
|
|
gleek
Flak Jacket
Karma: 107 Posts: 9511
OfflineE chu ta!
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #12 on: September 20, 2008, 02:59:36 PM » |
|
If that's the case, this bailout, at first blush, looks to be far worse than simply loaning these banks money to boost their liquidity. The government is letting the banks completely off the hook by taking over the highest-risk loans and eating the losses when these mortgages go into default and the properties end up being sold as HUD homes. Meanwhile there's nothing in place to prevent the banks from going right back to business as usual.
|
|
|
|
|
Logged
|
Woman, open the door, don't let it sting. I wanna breathe that fire again.
|
|
|
hobbit
Tartan Jacket From: The Shire
Karma: 27 Posts: 1823
Offline
|
|
Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #13 on: September 20, 2008, 03:02:31 PM » |
|
If that's the case, this bailout, at first blush, looks to be far worse than simply loaning these banks money to boost their liquidity. The government is letting the banks completely off the hook by taking over the highest-risk loans and eating the losses when these mortgages go into default and the properties end up being sold as HUD homes. Meanwhile there's nothing in place to prevent the banks from going right back to business as usual.
Correct. And I really hate it when you pinko libs share my position on an issue |
|
|
|
|
Logged
|
I've gone to find myself. If I get back before I return, keep me here.
|
|
|
